International Women’s Day: 63 per cent women seek entrepreneurial avenues, claims report
women in India aspire to start their own business, reflecting a strong desire for financial independence and self-reliance. This was shared as part of a report titled PayNearby Women Financial Index (PWFI) showcasing financial consumption by women at retail stores. The survey was conducted by the company among over 5,000 retail stores in the country recording financial transactions of women consumers in those outlets.
The fourth edition of the report gives a detailed analysis of consumption by women at retail stores in 2023-24. The report, among other things, also highlights the preference for biometric authentication, with over 95 per cent of female customers opting for AePS for cash withdrawal. While cash remains the favoured mode of transaction, with 48% of women favouring it, Aadhaar-led transactions and UPI QR codes are gaining momentum in double digits.
Cards continue to have a minimal presence in this segment. Notably, women aged 18-30, followed by 31-40, are the most digitally adept, showing a strong inclination towards financial transactions. Interestingly, 41 per cent of women mentioned that they do not use any payment app on their phones.
ALSO READ: International Women's Day: This is why you should invest as an investor, and not as a woman Cash withdrawal, mobile recharges, and bill payments emerge as the top three services availed by women at PayNearby retail outlets. The most common withdrawal range falls between ₹1000-2500, while EMI payments typically range from ₹500-1000. The report reveals that 70 percent of women hold Jan-Dhan savings accounts primarily used for cash withdrawals.
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